IAN Group Funds e-TRNL Energy with ₹27.4 Cr for Next-Gen Battery Cells
e-TRNL Energy, a pioneering cleantech startup, has successfully secured a seed funding of ₹27.4 crores from IAN Group’s IAN Alpha Fund. This investment represents a significant endorsement of the company’s innovative approach to next-generation battery cell technology. Alongside IAN Group, participation also came from Navam Capital, Speciale Invest, and other investors.
Investment in Next-Gen Battery Technology
The funds will propel e-TRNL Energy’s efforts in revolutionizing clean energy storage solutions. Founded in 2021 by Apoorv Shaligram and Dr. Uttam Kumar Sen, the company is developing advanced battery cell architecture and manufacturing processes. This innovative strategy differs from conventional battery advancements, focusing on core design rather than merely enhancing existing models.
Founders’ Expertise
- Apoorv Shaligram: Co-founder and CEO, with over 10 years in lithium-ion research and EV battery design.
- Dr. Uttam Kumar Sen: Co-founder and CTO, a PhD holder in Energy Science & Engineering, with extensive experience in battery development.
Innovative Technology Approach
e-TRNL Energy aims to create safer, more efficient batteries. Their advanced design promises lower heat generation, faster charging times, and increased energy density. Additionally, improvements in manufacturing economics are expected to lower costs significantly.
The company plans to utilize the new capital to:
- Complete product development.
- Validate performance and safety standards.
- Demonstrate manufacturing capabilities within India.
Facility and Production Plans
With a 20,000 sq. ft. research and development facility already operational in Bengaluru, e-TRNL Energy is well-positioned to scale up its production capabilities. The company anticipates establishing a 250 MWh pilot manufacturing facility by 2027, with plans to expand that capacity to 2 GWh in the future.
The initial battery product will feature Lithium Iron Phosphate (LFP) chemistry, followed by expansions into LMFP and Sodium-ion technologies.
Future of India’s Energy Storage
Apoorv Shaligram emphasized that this funding allows e-TRNL Energy to move towards commercialization and further strengthens India’s position in the global energy storage landscape. The Indian battery cell market is projected to grow to approximately 400 GWh annually by 2035. This growth presents a substantial economic opportunity while highlighting the need for local manufacturing capabilities to mitigate supply chain risks.
Conclusion
IAN Alpha Fund, with a capital pool of $100 million, aims to support innovative startups like e-TRNL Energy that address critical issues within India’s energy transition. Rajnish Kapur, Managing Partner at IAN Alpha Fund, highlighted the importance of developing local battery technology to reduce reliance on imports, ensuring a sustainable future for India’s energy needs.
